Tag Archives: translation

Most important English Sayings translated to Spanish II

Proverbios ingleses más importantes traducidos al español II

English and Spanish cultures share a collection of wise sayings called “proverbs” (or proverbios, in Spanish) that offer advice about how to live your life. Some of them translate almost literally while others change the words but not the meaning.

Here you have the second list of some of the most popular proverbs in English and their Spanish equivalent. You are welcome to contribute with new translations in the comment box below. I hope you enjoy this!

International trade produces a large volume of documents, which must be written, translated and adapted by specialized professionals. Ignorance of this field can lead to miscommunication and misunderstandings and, too often, to absurd, hardly decipherable translations. Translation agencies make sure to hire interpreters, translators and proofreaders who are familiar with this specialized terminology. Thus, it is a must to learn the concepts and terms of international trade in order to deal with its technical documents. International trade, as part of the business and financial translation, not only directly impacts corporate and business documents produced by import & export companies and banks, but also business and financial media, the translation of Commercial Codes and international organizations’ publications. It is also a very relevant field for interpreters, since they often take part in foreign trade negotiations (trading, bargaining, agreements, disputes, litigations…)

Marcel Solé is a financial translator, proofreader and trainer. He holds a Higher Technician diploma in Finance, Marketing and International Trade and obtained an International Certificate in Financial English and a Certificate of Proficiency in English (University of Cambridge, Cambridge English). He also obtained a Diploma in Financial Translation from English to Spanish with honors. Marcel has worked ten years as a translator and Project Manager for translation agencies, outstanding business schools —listed among the top 25 by Financial Times and the Economist— and publishing companies. He has been training translators, interpreters and financial professionals over the last years. Marcel is also the author of the blog www.financial-translator.com

Highest paid translations

This post is an attempt to answer a question I have been asked on countless occasions, namely, Which are the highest paid specializations in the translation and interpreting professions? I will try to be brief.

First of all, needless to say, it is essential for a translator to be highly trained in a given field of specialization; and it is highly recommended to train constantly and keep up with updates within such field. Agencies and end clients highly value this trait. Once the translator is feeling confident, it is advisable to start with small translations and from the very beginning to start creating translation memories (preferably, one for each company or client).

Returning to the issue at hand, although much depends on the type of end clients or agencies (and the country in which they are located), the most interesting specializations concerning fees include:

– Pharmaceutical Translation: With rates around €0.10, €0.12 or €0.15 /word (approx. $0.18). The interpreters at medical conferences enjoy very good fees, but it is a quite difficult area to access.

Pharmaceutical translation

– Financial Translation: A senior “in-house” translator working in a large company (e.g., an accounting or asset management agency in Spain), can reach €40,000 ($50.100). If the company is located in Luxembourg, Switzerland, Germany or the UK, it is not unusual to find that a financial translator’s payroll could reach €80,000 gross ($100.200). A freelance translator, if working with good agencies or end clients could reach around €50,000 annual gross ($63,000). There are very interesting “sub-specialties” – for example: translating asset management or financial software – with rates that can reach €0.20 ($0.25) /word

Financial translation

–Interpretation in Foreign Trade: In general fees are high, especially if it involves unusual languages. It all depends on what is considered unusual regarding a given location, for example in Spain a Russian translator of my acquaintance specialized in this area may charge up to €100 ($125) /hour.

-Software Localization: It is more like a skill, rather than a specialization. It is a skill concerning ICT that every translator can attain. There is no lack of work within the powerful software and video game industry, and a translator on the payroll can earn around 30,000/40,000€ ($40,000) a year.

Sotware localization

– Sworn translation: Much depends on the language combination and if the source language is legal, notarial or of academic relevance within the country. But the added value provided by the sworn translator is indisputable, who can charge up to €0.20 ($0.25) /word.

– Legal translations: The standard rate for certified translations for Federally Certified Court Interpreter and Expert Witness based in the Southern District of New York is $0.25-$0.27 per word. (Thanks Walter!).

Sworn translations

The rates and fees depend largely on the nature of a company and the country where it is located, but with this post I am trying to highlight some of the highest paid translation specializations. Lastly, this post is open to your contributions. If you want to share your experiences, please do not hesitate to leave a message.

It has been a pleasure to conduct an interview with Francesca Airaghi, a translator who has been working with financial companies, asset management companies, investment funds, banks, financial communication companies, law firms and international corporations for specialised translations.

How and when did you get started as a financial translator?

In 1992, I graduated in Foreign Languages and started an apprenticeship at a translation company in Milan specialising in finance, corporate law and journalism. I attended a course in economics and finance, and after some months, I became in-house translator and proofreader, then Translation Manager. I specialised from direct experience and through constant learning over the years.

Do you think financial translation is a good field of expertise?

First, it depends on your personal inclination. If you are willing to be constantly up-to-date with current affairs and you are able to cope with strict deadlines, the financial field may offer good opportunities. You can work with global companies and banks, solid asset management and investment companies, which have to translate a lot of financial material. However, this sector, like many other industries, may be volatile. It is a niche, though wide with many subgenres. I think it is up to you and your professionalism to succeed.

From your point of view, what are the considerations a financial translator should take into account?

Finance is related to news, political, social and economic developments. In order to translate financial documents, you must understand the subject matter very well. Terminology is not enough. You must be constantly informed onglobal and national developments. Most importantly, you have to deal with time pressure. Capital markets do not wait. Translations are normally urgent, with a very quick turnaround (from a few hours to a couple of days for market commentaries or investment fund factsheets, a bit longer for quarterly or annual reports). Planning is challenging, you should be – or learn to become – a well-organised person.

Some people consider finance is a rather tedious affair. What do you think about this?

In my opinion, each profession is at times boring, at times exciting. When I went to school, I wished to translate novels and romances. Over the years, I understood that finance and economics, as well as law and politics, are part of our everyday life. Translating news into Italian on the US “shutdown”, on the earthquake in Japan, or on the one-child policy in China is probably more interesting for me, and very much connected with real life.

What has been your biggest professional challenge?

I have been translating from more than 20 years, so I could mention many projects that were particularly hard, for various reasons (deadlines, terminology, and relationship with the client). However, my biggest challenge was when I decided – after more than 10 years – to leave the (second) translation company where I was working in-house to become a freelancer. I knew I had the expertise and specialisation as translator and project manager as well, but not as an entrepreneur. I had to learn a lot, almost from scratch: marketing and accounting, and improving time management.

Do you do anything to keep your translating skills sharp? Does it help to consume other media such as movies or documentaries in the language in which you’re working?

Yes, absolutely. I watch movies and videos in English. I read articles, blogs on freelancing and translation. Periodically, I also attend conferences and courses. I have found a lot of good on-line courses and webinars (including on Udemy, Proz, etc.), very useful and convenient because they are self-paced training. What I am missing a bit as a freelancer is the daily contact in person with international colleagues that is useful for feedback.

You have been translating for some years. Has the market and the demand changed in the meantime?

Well, yes, from more than twenty years now. The translation market was and still is very fragmented, and it may be irregular and volatile. Globalisation and the Internet led to increased competition, even from unprofessional translators that work for very low rates. Translators’ visibility has improved in general, though not so much, at least in Italy. Probably, income diversification may help freelancers. However, most of my clients are still looking for quality and prefer a long-term relationship with the translator.

Do you have a consistent strategy or technique that you employ in the mechanics of your translation routine?

I have developed a workflow both for the translation process and for my daily routine. As for translation, I start analysing the source text and client’s instructions, then look for specific terminology, translate a draft, revise, check interpretation, style, grammar, terminology, and then proofread again. It is a multiple-step process. As for my work routine in general, I try to avoid distractions. When I translate (usually in the morning), I focus on translation, then I organise my week to include training, reading, marketing, accounting, and a bit of yoga! I am using David Allen’s GTD method (Getting Things Done) to prioritise activities and focus on one task at a time. It makes me more productive.

Are there any pitfalls to avoid in the translation business?

The biggest pitfall is to fossilize on one’s skills and not to learn continuously. Moreover, you have to manage “feast and famine”. And bad payers! There are very good translators who are bad entrepreneurs.

What advice would you give to an up and coming translator?

I know it is not easy, however I would suggest to have an experience as in-house translator (even for free, if you can). It might be very useful to understand how this sector works. Mentoring might be a good solution for young translators, as well as spending time reading translation and freelance forums. When you start having success and clients, do not stop learning. Languages, specialisation, CAT tools, technical skills are of the essence, though do not forget “soft” skills, such as communication and teamwork.

Thanks again for sharing your expertise with us, Francesca. It is a pleasure to meet professional colleagues in the translation industry. I’m sure this interview will be of great interest to many visitors and translators.